Press Release
SIA Hails Progress on Economic Recovery Package
For Immediate Release
February 10, 2009
San Jose, CA – February 10, 2009 – The Semiconductor Industry Association (SIA) today hailed Senate passage of an economic recovery bill. The bill is a step forward in the process towards final legislation that will spur near-term economic growth and encourage innovation to benefit the U.S. economy in the long-term.
“We are very pleased that the Senate was able to reach an agreement to pass an economic recovery package and proceed to conference with the House,” said SIA President George Scalise.
Scalise called for continued efforts to address issues that are important to U.S. innovation. “We were pleased that both bills recognize the importance of substantial funding for research and related scientific infrastructure. We encourage the conference committee to adopt the higher levels for NSF, NIST, and DOE Science,” Scalise continued. “Investments in science create jobs now and will improve America’s competitive position in the global economy for years to come.” A recent Information Technology Industry Foundation model indicated that House-passed levels for research and infrastructure programs at NSF, NIST, and DOE Science would generate over 100,000 jobs in one year.
“We are pleased that both the Senate and House bills include funding for national priorities such as energy, health IT, and broadband. Semiconductor technology can achieve significant efficiencies in the generation, transmission, and use of energy. Investments in health IT will create future cost savings and improve quality of care, and expanded broadband deployment will allow underserved areas of the country to benefit the IT economy. Investment in these new technologies will also create new opportunities for the technology sector, which has been severely impacted by the current global recession.
“As America’s second-largest exporting industry, we hope that the compromise bill will eliminate the ‘Buy American’ provisions, which would invite retaliation by our trading partners and do significant damage to U.S. exports. We also hope the compromise bill will address important tax issues including allowing companies in loss situations to exchange future tax benefits such as alternative minimum tax and R&D credits for cash now to provide liquidity and finance investments that will create jobs today.
“We look forward to working closely with legislators in both houses and on both sides of the aisle to pass an economic recovery bill that will achieve both near- and long-term benefits,” Scalise concluded.
About the SIA
The SIA is the leading voice for the semiconductor industry and has represented U.S. semiconductor companies since 1977. Collectively, the chip industry employs a domestic workforce of approximately 200,000 people. The semiconductor industry is America’s second-largest exporting industry. More information about the SIA can be found at www.sia-online.org.
For more information:
Semiconductor Industry Association
John Greenagel or Daryl Hatano
408.436.6600
